The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-07-24
GEORGIA'S WEALTH.
Something About the Property That Is
Owned By the Empire State.

Owned By the Empire State.
From the atlanta tGG.) Journal
The State of Georgia is not as rich as
some folks, but she could buy out several
paupers for all that
| How many native Georgians, by the way,
have even the faintest idea of what belongs
in Georgia's pocket book?
| Only very faint idea can be given.
Part of her assets are worth nothing and,
| no valuation has ever been placed upon the
greater part of the remainder.
| She is the fortunate possessOr of 1888, 900
| worth of stock in the old Bank of the State
! of Georgia; of $S000O worth of that of the
Bank of Augusta and of 81, 100000 worth
in the Atlantic and Gulf railroad; and all
this pretty property, amounting in the ag-
gregate to an alleged million and a quarter
| and more, would bring tomorrow in the
market-just nothing.
The value of the Western and Atlantic
railroad the States greatest possession, has
never been estimated. Neither have the
public buildings in Milledgeville, consisting
of the old capitol, and executive mansion
and the State penitentiary; nor the present
capitol and the mansion now in use in At
lanta.
The new capitol, with its site, will, when
| completed, have cost 81 100000.
The present capitol was bought during the
reign of the carpet-bag administration for
1865, 000 and the Atlanta mansion for $780,
600; but these figures are no index to the
present market value of either.
The capitol, for instance, on account of
its supposed unsafe condition, would per-
hapS only be considered to cumber the land
on which it stands, if offered at public out
cry.
The mansion was said to have cost its
builder $15, coo; but recently the Capitol
" 'lnh h11ilI &c
an equally expensive building and occupied
that portion Of the same block nearest the
business centre of the town, sold for less
than half the money.
In 1859 Gov Brown estimated the cost of
building the Western and Atlantic road to
have been 81, AL 532 Is and said that was
too much to have paid for the road by
81, 500,0O0.
But 100000 is the figure most COM
monty fixed upon by the popular mind in
valuing the property, and that is doubtless
a low figure. The road would likely be
cheap at $500, 600 more, or about the amount
of the State debt
So it would be next to impossible to reach
safe approximate estimate of the great
bulk of the States wealth-her railroads
and her buildings.
She has, however, some possessions con-
corning the value of which no question ex-
lists.
She owns bonds of the Marietta and North
Georgia railroad worth SOC, 233 81. 1856
| shares of stock in the Georgia Railroad and
Banking company, valued at $25, 900 and
$4,000 worth i'll the Southern and Atlantic
Telegraph, endorsed by the Western Union;
or in all, Sl01 ,233.62 in stocks and bonds.
If the Dean bill becomes a law and the
Western and Atlantic railroad is sold and
the proceeds applied to clearing away the
| state debt, Georgia will still have, in addi-
ton the snug little pile always laid away
behind the burglar-prOOf time lock in the
treasury, 81 10000 capitol; half a dozen
| other large public buildings, value not esti-
mated, and SOL ,23S. 81 worth of bonds and
stocks, to fall back on, to say nothing of an
annual income of about four millions,
a discussion of the States property nat
urally brings up the possessions of her chill
dren, and here again is great difficulty in
furnishing accurate figures.
The taxable property in Georgia, exclu-
sive of railroads, amounts to S306, 5O7, 57S
And including such railroads as are liable to
taxation, S22, 9S1 1927 more.
The States road, of course, is not subject,
| neither is the roadbed and outfit of the
Georgia railroad; nor that of the Central,
nor the Southwestern, nor the Augusta and
Savannah.
Consequently these roads, like that of the
State, have never been valued, and their
worth can only be guessed at.
Eight or ten millions each would prOba-
bly, be no exorbitant estimate for the Cen
| trail, the Southwestern and the Georgia
The Augusta and Savannah is of course
much less valuable.
Perhaps the entire property of Georgia,
exclusive of that owned by the State, may
be roughly estimated to be worth $351,-
| 4S9, sos
| OF the 1906, 5O7, 57S of the taxable prop
erty in the State, Towns, the poorest of the
counties, furnishes only 1929, $50, and Ech-
| OILS $685., 6j4
! Richmond has $40, 754,1 $50, and is the third
| richest county in the State.
Chatham is the second richest county, and
returns S23, 422, 1856
The richest county by long odds is Fulton,
| which last year had $}2, GS1, 40, or more
than tenth of the entire taxable property
of the State